San Francisco-based Pacific Bank reported a net loss of $4.3 million in the second quarter.
The bank also announced that it is hiring investment bankers Keefe, Bruyette & Woods to assist it in raising $25 million in capital by the end of the year.
"We are confident that we will meet our capital requirements, said chairman Ned Dean.
Mr. Dean also separately announced he would relinquish the title of chief executive to Leonard W. Busse, a former Continental Bank Corp. executive brought in as chief operating officer earlier this year.
